Daily Market Update

Gold Imports Into China Surge 61% From 8 Year Low To 13 Tonnes

◆ Gold is 0.6% lower today at $1,497/oz and appears headed for a 1.1% fall this week after a 2% gain last week

◆ Gold looks set for a near 2% loss in September which will encourage bargain hunters buying on weakness; The dollar remains near multi-week highs despite poor U.S. economic data of late and the political turmoil in the U.S.

◆ Heightened risks from political tensions to the U.S-China trade war are being ignored for now but are impacting the global economy and leading to safe haven demand

◆ China’s net monthly gold imports via Hong Kong in August surged nearly 61%, after falling to their lowest in more than eight years in July, the Hong Kong Census and Statistics Department data showed yesterday

◆ Gold and silver frequently see weakness at quarter end which continues in the very early part of the following quarter; we are likely seeing this again as large players “paint the tape” and hedge funds and banks take profits on their long positions

◆ Palladium is set for an eighth straight weekly gain and remains near all time record nominal highs; platinum is poised for its worst week in two months

 

 

NEWS and COMMENTARY

Gold settles higher, a day after biggest one-day loss in almost 3 weeks

Gold recovers after sharp fall; strong dollar caps gains

China trade talks set to resume Oct. 10

Dollar supported by safety flows; euro at new 2-year low

Pentagon to Send 200 Troops, an Air-Defense Missile Battery and Radars to Saudi

Stocks turn positive despite trade-war and impeachment concerns

Trump seeks whistleblower sources, mentions treason

 

Gold Prices (LBMA – USD, GBP & EUR – AM/ PM Fix)

25-Sep-19 1530.85 1528.75, 1231.11 1234.62 & 1391.24 1391.77
24-Sep-19 1520.25 1520.65, 1220.76 1216.67 & 1382.36 1381.36
23-Sep-19 1519.50 1522.10, 1222.13 1225.90 & 1385.48 1385.11
20-Sep-19 1504.10 1501.90, 1199.07 1203.62 & 1361.06 1362.52
19-Sep-19 1498.40 1500.70, 1200.67 1201.76 & 1354.85 1357.08
18-Sep-19 1502.20 1503.50, 1206.27 1204.90 & 1360.39 1359.92
17-Sep-19 1499.30 1502.10, 1208.89 1207.24 & 1361.51 1360.45
16-Sep-19 1502.05 1497.20, 1207.35 1203.30 & 1357.25 1359.46
13-Sep-19 1506.30 1503.10, 1209.41 1208.19 & 1356.88 1358.35
12-Sep-19 1502.95 1515.20, 1219.94 1227.46 & 1362.88 1373.53
11-Sep-19 1493.65 1490.65, 1208.21 1209.07 & 1354.74 1355.90



Jim Rogers: Buy Gold Coins and Silver Coins as Global Crisis Is Coming – Watch here


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Mark O'Byrne
Executive Director

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